Here’s Why (AMZN) Outperformed in the Third Quarter

Alger Capital, an investment management company, released the “Alger Spectra Fund” in the third quarter investor letter. A copy of it can be downloaded here. In the third quarter, the fund’s Class A shares outperformed the Russell 3000 Growth Index. During the quarter, the portfolio’s largest overweight sector was Health Care, and its largest underweight sector was Information Technology. In addition, you can review the fund’s top 5 holdings to find out its best picks in 2022.

Alger Capital discusses stocks such as, Inc. (NASDAQ:AMZN) in its Q3 2022 investor letter. Headquartered in Seattle, Washington,, Inc. (NASDAQ:AMZN) provides consumer products and subscriptions. On November 2, 2022,, Inc. stock closed (NASDAQ:AMZN) at $92.12 per share. The one month return of, Inc. (NASDAQ:AMZN) is -23.42% and its shares have lost 47.01% of their value over the past 52 weeks., Inc. (NASDAQ:AMZN) has a market capitalization of $939.781 billion.

Alger Capital made the following comment about, Inc. (NASDAQ:AMZN) in its Q3 2022 investor letter:, Inc. (NASDAQ:AMZN) is a prominent online retailer and cloud computing leader. The company’s amazon web services business provides utility-scale cloud offerings that facilitate corporate America’s transition to digital systems. Shares outperformed in the quarter as investors were encouraged by strong performance in the second quarter despite a challenging macroeconomic environment. Moreover, the company’s retail segment is resilient and has avoided inventory reductions as some major retailers have done. Revenues for the company’s cloud computing segment, amazon web services (AWS), grew faster than analysts’ estimates in the quarter due to the company’s continued need for digitization. As a result, management provided better-than-expected forward guidance.”



christian-wiediger-rymh7EZPqRs-unsplash, Inc. (NASDAQ:AMZN) is in the 2nd position on our list of the 30 Most Popular Stocks in Hedge Funds. According to our database, 252 hedge fund portfolios hold, Inc. (NASDAQ:AMZN) at the end of the second quarter 271 in the previous quarter.

We discussed, Inc. (NASDAQ:AMZN) in another article and shared the best future food stocks to invest in. In addition, please see our hedge fund investor letter Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article was originally published on Insider Monkey.

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